The reason why is some of the componets in a catalytic converter is made of platinum, and platinum is selling for $2000 an ounce. This trend is picking up nationwide.

It's not solely made up of Pt, it just contains precious metals in general to oxidize the chemicals, another example of an element inside a cat is Pd. And the grade of Pt is not that pure so it's not like you can melt 10 cats and come out with a platinum necklace.

The art of jacking cats is nothing new, like stated it's been ongoing for decades. Cats are easily the most valuable part in the exhaust line.